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Pakistan-Turkiye strengthen economic ties with $5 billion trade volume

Pakistan-Turkiye strengthen economic ties with $5 billion trade volume

Pakistan-Turkiye strengthen economic ties with $5 billion trade volume

ISLAMABAD: On Wednesday, Pakistan and Turkiye reaffirmed their commitment to strengthening bilateral cooperation across key sectors, including defence, trade, energy, culture, education, and infrastructure. Both countries pledged to increase their bilateral trade volume to $5 billion.

During a joint press stakeout in Islamabad, Turkish Foreign Minister Hakan Fidan and Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar expressed satisfaction with the ongoing progress of the 12 joint standing committees operating under the High-Level Strategic Cooperation Council (HLSCC).

Deputy Prime Minister Ishaq Dar recalled that during the last session of the HLSCC, held in Islamabad in February this year, both countries agreed to establish a Joint Commission. The two Foreign Ministers would co-chair the commission to review the progress of the 12 Joint Standing Committees operating under the HLSCC framework.

He proudly announced that all twelve Joint Standing Committees have either already held their meetings or will do so in the coming weeks.

He also announced that the Joint Ministerial Commission (JMC) plans to hold its meeting shortly.

“The JMC will be co-chaired by the Minister of National Defence of Türkiye, Yasar Güler, and the Minister of Commerce of Pakistan, Jam Kamal Khan. This important platform is expected to further bolster economic cooperation between the two countries,” he added.

The Deputy Prime Minister praised Turkiye’s remarkable progress in indigenizing its defence industry, noting that it had grown from 20% to 80% in recent years. He added that Pakistan was eager to benefit from Turkiye’s experience in this sector.

He also stated that Pakistan is actively pursuing the establishment of a Special Economic Zone in Karachi specifically for Turkish enterprises. Additionally, efforts are underway to revive the Istanbul-Tehran-Islamabad rail corridor. “Our delegations are meeting in the coming weeks to finalize a roadmap in this regard,” he said.

Dar confirmed that the government had allocated land in Muzaffarabad for the construction of a Maarif school.

He also shared that several major projects involving Turkish companies were under consideration, including the Jinnah Medical Complex, Danish University, offshore drilling operations, and participation in the privatization of power distribution companies.

Additionally, he said Pakistan was seeking to benefit from Turkiye’s expertise in ship-breaking and water management.

He added that capacity building in counter-terrorism is also on the agenda, emphasizing that these initiatives aim to lay the groundwork for the 8th High-Level Strategic Cooperation Council (HLSCC) meeting, scheduled to take place in Türkiye next year.

Turkish Foreign Minister Hakan Fidan stated, “We are aiming to increase our commercial relations up to $5 billion by enhancing cooperation in diverse areas, including energy, mining, education, and transportation.”

He also emphasized the importance of strengthening air, sea, land, and railway links between the two countries, noting that technical work in these areas is already underway.

On regional matters, the Turkish Foreign Minister praised Pakistan’s restraint during its recent tensions with India and reaffirmed Turkiye’s support for peace and dialogue. “The international community has witnessed Pakistan’s wisdom and calm approach during the crisis,” he said.

He also condemned Israel’s attacks in Gaza and Iran, describing them as a “violation of international law,” and pledged that Turkiye would continue working toward a permanent ceasefire and the delivery of humanitarian aid in Gaza.

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